One other advantage for RAW is when you shot a photo with a bright sky and dark foreground. Normally one would use a ND filter on the lens, but if you don't have one, or forgot to bring one, then you can take the RAW image and process it twice. One for the correct exposure for the sky, then again for the foreground and combine them in PS or PSP. Photo mags suggest this technique all the time, but suggest taking 2 shots. With RAW you do not need 2 shots, as you can adjust the exposure when processing the RAW file. Tedz - I just knew you where a RAW shooter.